Union Pacific Financials
This page shows Union Pacific (UNP) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 19 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Financial Health Signals
Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores
Union Pacific has an operating margin of 42.4%, meaning the company retains $42 of operating profit per $100 of revenue. This strong profitability earns a score of 100/100, reflecting efficient cost management and pricing power. This is up from 40.1% the prior year.
Union Pacific's revenue declined 100% year-over-year, from $24.3B to $23K. This contraction results in a growth score of 0/100.
Union Pacific has a moderate D/E ratio of 1.72. This balance of debt and equity financing earns a leverage score of 47/100.
Union Pacific's current ratio of 0.91 means current assets barely cover short-term liabilities. This tight liquidity results in a low score of 16/100, which could limit financial flexibility.
Union Pacific converts 23.7% of revenue into free cash flow ($5K). This strong cash generation earns a score of 100/100.
Union Pacific earns a strong 38.6% return on equity (ROE), meaning it generates $39 of profit for every $100 of shareholders' equity. This efficient capital use earns a returns score of 100/100. This is down from 40.0% the prior year.
Union Pacific scores 1811623.50, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($154.7B) relative to total liabilities ($51K). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.
Union Pacific passes 7 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), all 3 leverage/liquidity signals pass, neither operating efficiency signal passes.
For every $1 of reported earnings, Union Pacific generates $1.30 in operating cash flow ($9K OCF vs $7K net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Union Pacific earns $7.5 in operating income for every $1 of interest expense ($10K vs $1K). This wide margin provides strong safety for debt servicing, even if earnings decline temporarily.
Key Financial Metrics
Union Pacific generated $23K in revenue in fiscal year 2025. This represents a decrease of 100.0% from the prior year.
Union Pacific's EBITDA was $12K in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 100.0% from the prior year.
Union Pacific generated $5K in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 100.0% from the prior year.
Union Pacific reported $7K in net income in fiscal year 2025. This represents a decrease of 100.0% from the prior year.
Union Pacific earned $11.98 per diluted share (EPS) in fiscal year 2025. This represents an increase of 8.0% from the prior year.
Union Pacific held $1K in cash against $32K in long-term debt as of fiscal year 2025.
Union Pacific paid $5.20 per share in dividends in fiscal year 2025. This represents a decrease of 1.5% from the prior year.
Union Pacific had 593M shares outstanding in fiscal year 2025. This represents a decrease of 1.8% from the prior year.
Union Pacific's operating margin was 42.4% in fiscal year 2025, reflecting core business profitability. This is up 2.3 percentage points from the prior year.
Union Pacific's net profit margin was 30.7% in fiscal year 2025, showing the share of revenue converted to profit. This is up 2.9 percentage points from the prior year.
Union Pacific's ROE was 38.6% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 1.3 percentage points from the prior year.
Union Pacific spent $3K on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 100.0% from the prior year.
Union Pacific invested $4K in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 100.0% from the prior year.
UNP Income Statement
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $6.1B-2.5% | $6.2B+1.5% | $6.2B+2.1% | $6.0B-1.5% | $6.1B+0.5% | $6.1B+1.4% | $6.0B-0.4% | $6.0B |
| Cost of Revenue | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Gross Profit | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Operating Income | $2.4B-5.8% | $2.5B+1.0% | $2.5B+6.5% | $2.4B-6.1% | $2.5B+4.5% | $2.4B+0.7% | $2.4B+1.2% | $2.4B |
| Interest Expense | $325.0M-0.6% | $327.0M-2.4% | $335.0M+4.0% | $322.0M+3.2% | $312.0M-0.6% | $314.0M-1.6% | $319.0M-1.5% | $324.0M |
| Income Tax | $560.0M+5.7% | $530.0M+21.3% | $437.0M-12.8% | $501.0M-3.5% | $519.0M+0.2% | $518.0M+1.4% | $511.0M+2.4% | $499.0M |
| Net Income | $1.8B+3.4% | $1.8B-4.7% | $1.9B+15.4% | $1.6B-7.7% | $1.8B+5.4% | $1.7B-0.1% | $1.7B+2.0% | $1.6B |
| EPS (Diluted) | $3.12+3.7% | $3.01-4.4% | $3.15+16.7% | $2.70-7.2% | $2.91+5.8% | $2.75+0.4% | $2.74+1.9% | $2.69 |
UNP Balance Sheet
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $69.7B+1.5% | $68.6B+0.1% | $68.6B+0.1% | $68.5B+1.1% | $67.7B+0.2% | $67.6B-0.4% | $67.8B+0.8% | $67.3B |
| Current Assets | $4.6B+16.7% | $3.9B-6.7% | $4.2B-7.8% | $4.5B+12.9% | $4.0B-3.1% | $4.1B-7.8% | $4.5B+7.2% | $4.2B |
| Cash & Equivalents | $1.3B+56.7% | $808.0M-23.8% | $1.1B-24.9% | $1.4B+38.9% | $1.0B+7.3% | $947.0M-16.7% | $1.1B+22.9% | $925.0M |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | $1.9B-3.2% | $1.9B+0.3% | $1.9B-2.5% | $2.0B+3.7% | $1.9B-7.0% | $2.0B-3.9% | $2.1B-2.0% | $2.2B |
| Goodwill | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Liabilities | $51.2B-0.2% | $51.3B-1.9% | $52.3B-0.3% | $52.5B+3.2% | $50.8B-0.3% | $51.0B-0.7% | $51.3B-0.5% | $51.6B |
| Current Liabilities | $5.0B-3.9% | $5.2B-19.1% | $6.5B+3.7% | $6.2B+18.4% | $5.3B-2.1% | $5.4B+25.2% | $4.3B-5.4% | $4.5B |
| Long-Term Debt | $31.8B+5.0% | $30.3B0.0% | $30.3B-1.1% | $30.6B-1.8% | $31.2B+4.8% | $29.8B-4.5% | $31.2B-0.1% | $31.2B |
| Total Equity | $18.5B+6.7% | $17.3B+6.4% | $16.3B+1.4% | $16.0B-5.0% | $16.9B+1.8% | $16.6B+0.6% | $16.5B+5.3% | $15.7B |
| Retained Earnings | $69.5B+1.5% | $68.5B+1.4% | $67.5B+1.6% | $66.5B+1.3% | $65.6B+1.5% | $64.7B+1.3% | $63.8B+1.4% | $62.9B |
UNP Cash Flow Statement
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $2.2B-11.8% | $2.5B+8.1% | $2.3B+5.6% | $2.2B-17.0% | $2.7B+0.4% | $2.7B+38.7% | $1.9B-9.9% | $2.1B |
| Capital Expenditures | $999.0M+5.2% | $950.0M+1.5% | $936.0M+3.3% | $906.0M-1.7% | $922.0M+11.0% | $831.0M-7.9% | $902.0M+13.2% | $797.0M |
| Free Cash Flow | $1.2B-22.0% | $1.6B+12.5% | $1.4B+7.1% | $1.3B-25.1% | $1.7B-4.4% | $1.8B+80.4% | $1.0B-23.8% | $1.3B |
| Investing Cash Flow | -$971.0M-2.0% | -$952.0M-5.7% | -$901.0M+3.9% | -$938.0M-4.3% | -$899.0M-7.8% | -$834.0M-5.6% | -$790.0M+1.5% | -$802.0M |
| Financing Cash Flow | -$804.0M+55.9% | -$1.8B-2.9% | -$1.8B-101.7% | -$878.0M+48.1% | -$1.7B+15.7% | -$2.0B-118.9% | -$917.0M+36.8% | -$1.5B |
| Dividends Paid | $818.0M-0.1% | $819.0M+3.0% | $795.0M-1.1% | $804.0M-0.7% | $810.0M-0.5% | $814.0M+2.6% | $793.0M-0.3% | $795.0M |
| Share Buybacks | $0 | $0-100.0% | $1.3B-11.3% | $1.4B+110.7% | $674.0M-7.8% | $731.0M+631.0% | $100.0M | $0 |
UNP Financial Ratios
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Operating Margin | 39.5%-1.4pp | 40.8%-0.2pp | 41.0%+1.7pp | 39.3%-1.9pp | 41.3%+1.6pp | 39.7%-0.3pp | 40.0%+0.6pp | 39.3% |
| Net Margin | 30.4%+1.7pp | 28.6%-1.8pp | 30.5%+3.5pp | 27.0%-1.8pp | 28.8%+1.4pp | 27.4%-0.4pp | 27.9%+0.6pp | 27.2% |
| Return on Equity | 10.0%-0.3pp | 10.3%-1.2pp | 11.5%+1.4pp | 10.1%-0.3pp | 10.4%+0.4pp | 10.1%-0.1pp | 10.2%-0.3pp | 10.5% |
| Return on Assets | 2.6%+0.1pp | 2.6%-0.1pp | 2.7%+0.4pp | 2.4%-0.2pp | 2.6%+0.1pp | 2.5%0.0pp | 2.5%+0.0pp | 2.4% |
| Current Ratio | 0.91+0.2 | 0.75+0.1 | 0.65-0.1 | 0.73-0.0 | 0.770.0 | 0.77-0.3 | 1.05+0.1 | 0.93 |
| Debt-to-Equity | 1.72-0.0 | 1.75-0.1 | 1.86-0.0 | 1.91+0.1 | 1.85+0.1 | 1.79-0.1 | 1.89-0.1 | 1.99 |
| FCF Margin | 20.2%-5.0pp | 25.2%+2.5pp | 22.7%+1.1pp | 21.6%-6.8pp | 28.4%-1.5pp | 29.9%+13.1pp | 16.8%-5.2pp | 22.0% |
Note: The current ratio is below 1.0 (0.91), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
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Frequently Asked Questions
What is Union Pacific's annual revenue?
Union Pacific (UNP) reported $23K in total revenue for fiscal year 2025. This represents a -100.0% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Union Pacific's revenue growing?
Union Pacific (UNP) revenue declined by 100% year-over-year, from $24.3B to $23K in fiscal year 2025.
Is Union Pacific profitable?
Yes, Union Pacific (UNP) reported a net income of $7K in fiscal year 2025, with a net profit margin of 30.7%.
What is Union Pacific's earnings per share (EPS)?
Union Pacific (UNP) reported diluted earnings per share of $11.98 for fiscal year 2025. This represents a 8.0% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.
What is Union Pacific's EBITDA?
Union Pacific (UNP) had EBITDA of $12K in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Union Pacific have?
As of fiscal year 2025, Union Pacific (UNP) had $1K in cash and equivalents against $32K in long-term debt.
What is Union Pacific's operating margin?
Union Pacific (UNP) had an operating margin of 42.4% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Union Pacific's net profit margin?
Union Pacific (UNP) had a net profit margin of 30.7% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
Does Union Pacific pay dividends?
Yes, Union Pacific (UNP) paid $5.20 per share in dividends during fiscal year 2025.
What is Union Pacific's return on equity (ROE)?
Union Pacific (UNP) has a return on equity of 38.6% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Union Pacific's free cash flow?
Union Pacific (UNP) generated $5K in free cash flow during fiscal year 2025. This represents a -100.0% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Union Pacific's operating cash flow?
Union Pacific (UNP) generated $9K in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Union Pacific's total assets?
Union Pacific (UNP) had $70K in total assets as of fiscal year 2025, including both current and long-term assets.
What are Union Pacific's capital expenditures?
Union Pacific (UNP) invested $4K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
Does Union Pacific buy back shares?
Yes, Union Pacific (UNP) spent $3K on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.
How many shares does Union Pacific have outstanding?
Union Pacific (UNP) had 593M shares outstanding as of fiscal year 2025.
What is Union Pacific's current ratio?
Union Pacific (UNP) had a current ratio of 0.91 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.
What is Union Pacific's debt-to-equity ratio?
Union Pacific (UNP) had a debt-to-equity ratio of 1.72 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Union Pacific's return on assets (ROA)?
Union Pacific (UNP) had a return on assets of 10.2% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Union Pacific's Altman Z-Score?
Union Pacific (UNP) has an Altman Z-Score of 1811623.50, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios—working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets—to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Union Pacific's Piotroski F-Score?
Union Pacific (UNP) has a Piotroski F-Score of 7 out of 9, indicating strong financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Union Pacific's earnings high quality?
Union Pacific (UNP) has an earnings quality ratio of 1.30x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Union Pacific cover its interest payments?
Union Pacific (UNP) has an interest coverage ratio of 7.5x, meaning it can comfortably cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Union Pacific?
Union Pacific (UNP) scores 61 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.